Canadian Baptists of Ontario and Quebec Foundation sell Lynde Creek Retirement Community for $34.5 million

December 28, 2018

On April 11, 2018, Canadian Baptists of Ontario and Quebec Foundation alongside Canadian Baptists of Ontario and Quebec Housing Corporation (collectively, “CBOQ Corporations”), completed the sale of Lynde Creek Retirement Community to Extendicare Inc. (“Extendicare”) (TSX: EXE) for $34.5 million. The retirement community, located in Whitby, Ontario, consists of the Lynde Creek Manor Retirement Residence, which offers 93 independent and assisted living suites; the Lynde Creek Life Lease Village, with 113 townhomes; and 3.7 acres of adjacent land for expansion.

Headquartered in Etobicoke, Toronto, Ontario, CBOQ Corporations in association with the Canadian Baptists of Ontario and Quebec carry out and support innovative ministries, respond compassionately to social needs, respond to crises and support local churches and their communities in Ontario and Quebec by training leaders and providing churches with administrative and financial services.

Miller Thomson advised CBOQ Corporations with respect to this sale with a team that included David Tang (Municipal-Real Estate and Social Impact), Kristina Shaw (Corporate/M&A), Ali Baniasadi (Real Estate) and Michelle MacGillivray (Labour & Employment).